U.S. crude oil stocks unexpectedly fall 3.9 million bbls: API
NEW YORK, Jan 12 (Reuters) - - U.S. crude stocks fell unexpectedly last week, while gasoline and distillate inventories built, data from industry group the American Petroleum Institute showed on Tuesday. Crude inventories fell by 3.9 million barrels in the week to 480.071 million, compared with analysts' expectations for a increase of 2.5 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 302,000 barrels, API said. The unexpected decline lent support to crude oil prices which were battered Tuesday falling to below $30 a barrel. After the data was announced, crude oil pared losses slightly. Refinery crude runs fell by 127,000 barrels per day, API data showed. Gasoline stocks rose by 7 million barrels, compared with analysts' expectations in a Reuters poll for a 2.7-million-barrel gain. Distillate fuels stockpiles, which include diesel and heating oil, rose by 3.7 million barrels, compared with expectations for a 1.98 million-barrel gain, the API data showed. U.S. crude imports fell last week by 239,000 barrels per day to 7.2 million bpd. ((( Reporting by New York Energy Desk; tel 646 223 6050 )))
